Cancellation of admission to AIM
09 Junho 2009 - 12:10PM
UK Regulatory
TIDMZYZ
RNS Number : 6236T
Zyzygy PLC
09 June 2009
Zyzygy plc ("Zyzygy" or the "Company")
Cancellation of admission to AIM
On 9 December 2008 the Company's shares were suspended from trading on AIM as
the accounts for the year ended 30 June 2008 would not have been available by 31
December 2008.
The global financial crisis has affected the Company badly in a number of ways,
preventing the realisation of funds through the flotation of its investee
companies, and delaying the receipt of funds promised by shareholders. Although
overheads have been cut to a minimum with the directors drawing neither salary
nor expenses for a considerable time, funds became tight and on 10 March 2009,
the Company felt obliged to update the market, stating that it had limited cash
resources, that funds expected to be made available by a shareholder had not, at
that date, been forthcoming and that a further statement would be made once the
Company's financial position has been clarified.
As the Company has not yet been able to raise funds and to complete its audit,
its shares will cease to be traded on AIM with effect from 10 June 2009.
After tomorrow, the Company will continue to operate as an unquoted company,
seeking to raise funds from shareholders or elsewhere in order to allow it to
develop its principal investee company, NiceTech Limited. Depending on how the
Company progresses, the directors may seek to relist the Company's shares at
some time in the future.
Contacts:
Zyzygy plc
Duncan Lipscombe (Chairman)
07775 681648
Grant Thornton UK LLP
Philip Secrett/Colin Aaronson
020 7383 5100
This information is provided by RNS
The company news service from the London Stock Exchange
END
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